Introduction To Agent-based Economics by Mauro GallegatiIntroduction To Agent-based Economics by Mauro Gallegati

Introduction To Agent-based Economics

byMauro GallegatiEditorAntonio Palestrini, Alberto Russo

Hardcover | August 5, 2017

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Introduction to Agent-Based Economicsdescribes the principal elements of agent-based computational economics (ACE). It illustrates ACE's theoretical foundations, which are rooted in the application of the concept of complexity to the social sciences, and it depicts its growth and development from a non-linear out-of-equilibrium approach to a state-of-the-art agent-based macroeconomics. The book helps readers gain a better understanding of the limits and perspectives of the ACE models and their capacity to reproduce economic phenomena and empirical patterns.

  • Reviews the literature of agent-based computational economics
  • Analyzes approaches to agents' expectations
  • Covers one of the few large macroeconomic agent-based models, the Modellaccio
  • Illustrates both analytical and computational methodologies for producing tractable solutions of macro ACE models
  • Describes diffusion and amplification mechanisms
  • Depicts macroeconomic experiments related to ACE implementations
Mauro Gallegati is Professor of Economics at the Polytechnic University of Marche, Ancona. He earned his Ph.D. in Economics at the University of Ancona and has been visiting professor in several universities, including Stanford, MIT, and Columbia. His research includes business fluctuations, nonlinear dynamics, models of financial frag...
Title:Introduction To Agent-based EconomicsFormat:HardcoverDimensions:274 pages, 9.41 × 7.24 × 0.98 inPublished:August 5, 2017Publisher:Academic PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0128038349

ISBN - 13:9780128038345

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Table of Contents

Part 1 An Introduction to Agent-Based Computational Economics

Part 2 Macroeconomic Agent-Based Computational Economics 1. Decentralized Interacting Macroeconomic Models and the Agent Based "Modellaccio" 2. AS-AD Representation of Macroeconomic Emergent Properties 3. Macroeconomic ABM and DSGE Models 4. Early Warning Indicator for Crises in an Agent Based Macro Model

Part 3 Macroeconomic ABM: Perspectives and Implications 5. Expectation Models in Agent-Based Computational Economics 6. Experimental Economics for ABM Validation 7. Econometric Methods for Agent Based Models 8. Modeling the Joint Distribution of Income and Consumption in Italy: A Copula-Based Approach with k-generalized Margins 9. A Networked Economy: A Survey on the Effect of Interaction in Credit Markets